Greenland Mines Ltd (GRML) Form 8-K — Aug 27, 2026
Greenland Mines Ltd priced a registered public offering on August 26, 2026, agreeing to sell 1,632,783 common shares at $5.00 per share plus pre-funded warrants for 2,367,517 shares at $4.9999 each to institutional investors, with closing expected on or about August 27, 2026. Net proceeds are expected to be approximately $18.5 million after fees, which the company intends to use together with existing cash to complete its acquisition of the Sarfatoq project and for working capital purposes.
Key figures
- Gross Proceeds
- approximately $20.0 million implied from stated share counts and prices (net ~$18.5 million stated)
- Offering Price
- $5.00 per common share; $4.9999 per pre-funded warrant
- Shares Offered
- 4,000,300 total (1,632,783 common shares + pre-funded warrants for 2,367,517 shares)
- Shares Outstanding
- no fewer than 4,809,796 shares post-offering (closing condition in Purchase Agreement)
- Net Proceeds
- approximately $18.5 million
- Expected Closing
- on or about August 27, 2026
- Shelf File Number
- 333-288533 (S-3 effective July 25, 2025)
- Beneficial Ownership Cap
- 4.99% (electable to 9.99%)
- Pre Funded Warrant Shares
- 2367517
- Placement Agent Fee Percent
- 7
- Pre Funded Warrant Exercise Price
- 0.0001
- Company Issuance Restriction Days
- 30
- Placement Agent Expense Reimbursement
- up to $50,000 non-accountable expenses plus up to $65,000 legal expenses
Price after filing
Close on the filing date to close N calendar days later (from $5.26). Historical, not a forecast.
AI analysis
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